Q&A: How might one decrease the disadvantages you listed such as higher insurance premiums from using a credit card?
Question by Kamisha C: How might one decrease the disadvantages you listed such as higher insurance premiums from using a credit card?
Best answer:
Answer by Nicole
Using a credit card in itself won’t increase your insurance premiums. In personal home and auto insurance, the company runs an “insurance score” aka your credit score. The better your credit, the better your rate. I’ts a way for the insurance company to find a preferred market, just like them running your MVR. The fewer violations, the better your rate, etc.
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Q&A: Is your personal credit the same as business credit?
Question by Cajun_ Creater: Is your personal credit the same as business credit?
My personal credit is horrible because of a bad marriage, separation and I live on SSI , so it is has been difficult to rebuild my personal credit.
I was wondering if business credit is the same as personal credit? Do they use the same process?
Best answer:
Answer by Robbyz3
The answer is yes and no. Many small business owners use their personal credit to run the business which is wrong. For personal credit you have Transunion, experian, and equifax. The major business credit bureua is called Dunn and Bradstreet. With D&B your business vendors (if they choose) will report and you will build a “credit score” with them. If you establish a business make sure to contact D&B and setup your business credit profile. You can and should run a business solely off of your business credit to protect your personal credit incase something goes wrong with the business (and we all know many new businesses fail) Remember, when you call D&B they are in SALES so they want you to spend as much money as you can. Use them to get information, and if you feel it necessary, purchase some of their products. Good luck.
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Categories: Credit Score Questions Tags: Business, Credit, Personal, same
Will secured credit cards build credit history?
Question by deedee: Will secured credit cards build credit history?
How long would it take if I used this method to build my credit history? Will I be eligible for regular credit cards if after this? Im trying to build my credit up and fast! I have no credit history right now.
Best answer:
Answer by Frank
Yes, they will, if you pay on time. Don’t pay late. Don’t pay late.
And don’t think that using them more will make youre credit better. Your credit report shows the number of times you paid late, the amount you currently owe, and the maximum you ever owed on that account.
If you use the card one month and then pay it off and stick it in a drawer for 11 months, that will look exactly the same one your credit report as if you used the card every month for 12 months and never paid late. So don’t fool yourself into buying more stuff to help your credit, because it won’t make a bit of difference.
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Bad Credit Car Loans – How to Get Financed
Upholding an excellent and responsible credit score is always of the essence. Otherwise, you will be running a huge risk of not being approved by the creditors.
If you have high scores, it follows that lenders will most probably give you very favorable rates. As a matter of fact, you can even ask for the best possible conditions there are. Having a score this good can almost assure you will be eligible even for big ticket items you are eyeing on.
This holds true even with the cars that you want to grab, but if you have poor credit, how will it come about? Watch this video.
Categories: Credit Score Videos Tags: Credit, Financed, Loans
How many points are taken off your credit score when a credit check is done?
Question by bendavis19792003: How many points are taken off your credit score when a credit check is done?
Best answer:
Answer by housemouseref
It depends on what type of company pulled your credit. Example, if you are shopping for a car loan, supposedly, you have up to 5 credit pulls within a 30 day time frame during which your score will not drop. It also depends on how solid your credit score is to begin with. If you have great credit with no lates, it probably won’t pull the score down. What type of credit are you shopping for?
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Q&A: Is Black Mastercard the Boss of all credit cards?
Question by nightfire4107: Is Black Mastercard the Boss of all credit cards?
I heard people who have a Black Mastercard is rich and is for rich people?
Best answer:
Answer by Brad G
You might be thinking about the Black American Express card. The card is actually metal. It’s quite heavy for a credit card. I think it has an unlimited spending limit, but I’m not exactly sure. But I am a bartender and I’ve swiped quite a few of them. Most of the people that I’ve seen that have had them were doctors and stuff, so yes usually anyone that would have one are definitely well off. Here are a few quotes from a website.
“The Black American Express credit card is actually referred to as the “Centurion Card”, and is offered by invitation only, usually to celebrities and business tycoons and the like.”
“It also costs $ 5,000 to enroll in the Centurion Card program, and supposedly you need to spend a minimum of $ 250,000 within 12 consecutive months to qualify for the program (along with a stellar credit score).”
“There are said to be about 10,000 Centurion credit cardholders worldwide, which begs the question, is an even more exclusive credit card necessary?”
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Categories: Credit Score Questions Tags: Black, Boss, Cards, Credit, Mastercard
Q&A: What is the best way to rebuild your credit?
Question by 1 Rocket: What is the best way to rebuild your credit?
I see those ” I can fix your credit” signs on phone polls and tv ads is it really that easy? What about if you don’t have ten or twenty thousand dollars worth of debt? Between myself and wife there is about six thousand, what do you pay first and what does not need immedate attention?
Best answer:
Answer by party planning, atlanta
If you get a credit card, keep it way below maximum credit line, pay regularly and never go over, then this helps your credit immensely. Also, any line of credit over 300 dollars that you do well with adds points after three months
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Categories: Credit Score Questions Tags: Best, Credit, rebuild
Q&A: How do i get approved for credit?
Question by cherryblossom80555: How do i get approved for credit?
Im trying to build up my credit history but ive tried about 5 credit card and non approved me. i even tried a credit card that says it will approve credit for people with “Fair Credit”. im 18 and ive never had credit or anything under my name and i dont understand why they dont approve me? sure i dont have credit but i dont have bad credit eather. how am i suppose to start building credit if no one approves me? you have to start some where dont you?
I checked my Credit History and just like i thought is says i have 0 Accounts in good standing and 0 accounds in bad standing.
Best answer:
Answer by grierGRIER h
Credit cards are an important means of establishing credit history. Using them responsibly, controlling your spending habits and not misusing them will always help the cause. Here are few things to keep in mind before you apply for a credit card.
It is always better to use a credit card which is issued in your name. The simple reason being, it helps establish credit history for you. Use the correct identity, and get credit card issued for proper name, social security number, and address.
Decide what type of credit card you need and don’t get impulsive about obtaining it. Have patience and compare various offers that suit your choice.
The APR of credit card is a very important point not to be missed by any credit card owner. There are various types of APRs, like the 0 intro APR, regular APR, APR for cash advances, APR for purchases, APR for balance transfer etc. These APR contro what interest you pay on your credit card outstanding balances. Get compelte idea about the APRs that will affect you during your credit card ownership.
If you are getting a reward credit card, make sure you know how the rewards will be redeemed and using the credit card at what locations or merchants will help you get the maximum reward benefits. Another thing to watch out is the limitations to the reward program. Check carefully about what limits the rewards like minimum reward points, blackout dates, redemption locations, choice of airlines etc. If you have bad credit, then apply online at: http://www.credit-card-gallery.com/PrePaid_Card.html
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Categories: Credit Score Questions Tags: approved, Credit
Checking Your Credit Score Regularly
Emails, oil in a car, and lotto numbers, but how often do you check your credit report?
More often than not, people only think of checking their credit scores whenever they are eyeing on big ticket items. It is not and will never be an ideal practice. A credit repost is one of the most essential financial records we have as consumers. With your credit score in hand, you are able to monitor your current financial situation and can do something about it should it come out ugly.
The only time people even talk about their credit score is when they want to buy a big ticket item. A credit report is the most important financial record. It is your only tool to monitor and improve your financial situation.
The main reasons why having your credit score checked regularly is strongly recommended are for accuracy purposes and to detect any fraud. You are entitled to your free annual credit reports that you can obtain from the three credit bureaus: Experian, TransUnion, and Equifax.
Credit bureaus sometimes have the tendency to have errors in their reports, so you need to exert your own effort to avoid any discrepancies that might hurt your financial standing in the future if not fixed. Here is a rough list of the common mistakes these credit bureaus make.
-False missed payments
-Outdated bank information
-Duplicate accounts
-Missing accounts
-Negative records that are more than seven years back
-Phantom accounts or ones that you don’t actually own
With regard to fraud issues, you should make it a point to keep track of the number of inquiries requested on your account. If a specific request looks unfamiliar, then there might be someone else requesting for your credit score without your knowledge. Those people might use your name and social security number in buying items, open bank accounts, stuff like that.
As for fraud, make sure you track the number of inquiries requested on your account. If you are not familiar with the requests made on your account, then someone else is requesting your credit score. Your name and or your social security number might be used to purchase items, open bank accounts, or credit cards.
Regardless of the errors and identity theft, checking your credit score regularly should be in your list so you would be able to improve if you are not satisfied.
Categories: Credit Score Articles Tags: Credit, Credit Score
Can I get a good credit history if I’m paying my bills just before its due date?
Question by zack.spear: Can I get a good credit history if I’m paying my bills just before its due date?
Because I hate interests/financial charges accumulating when it’s late.
Best answer:
Answer by AnswerGuy5
Pay your bills on time. This is the best way to improve your score, and it’s never too late to start. Even if you’ve had serious delinquencies in the past, those will count less over time if you keep paying your bills on time.
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